Local News

ABU DHABI / WAM Abu Dhabi’s gross domestic product (GDP) at current prices for Q1 2019 rose by 3.3 percent to AED226 billion, compared to AED219 billion in the first quarter of 2018. The Abu Dhabi’s GDP at constant prices rose to AED207 billion in the first quarter of 2019, compared to AED196 billion for the same quarter of 2018, ...

Abu Dhabi / Emirates Business Eshraq Investments PJSC, the Abu Dhabi based investment company listed on Abu Dhabi Securities Exchange (ADX), reported a net profit of AED 4 million for the period ending on June 30, achieving another profitable half yearly result under the new management. Eshraq’s diversification pla-ns continued to pay off with each of its business divisions recording ...

Abu Dhabi / Emirates Business WeWork announced the launch of its first location in the United Arab Emirates in early 2020 at Hub71, a global tech ecosystem based in Abu Dhabi Global Market Square at Al Maryah Island. Alongside Hub71, WeWork will open over 5,000 square meters of collaborative and inspirational workspace tailored to tech companies (VCs) universities, corporates and ...

JAKARTA / WAM HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, arrived in Jakarta, marking his state visit to the Republic of Indonesia. Upon the arrival at the Soekarno-Hatta International Airport, Sheikh Mohamed bin Zayed was received by President JokoWidodo of Indonesia. HH Sheikh Mohamed and President ...

DUBAI / WAM The UAE Space Agency (UAESA) and the Mohammed bin Rashid Space Centre (MBRSC) have confirmed that the launch of the Emirates Mars Mission (EMM)’s Hope Probe, is in less than a year. MBRSC said it plans to launch the Hope Probe into orbit around mid-July 2020, and it is expected to reach Mars orbit in the first ...

DUBAI / Emirates Business Noor Bank, one of the leading Shari’ah-compliant banks in the UAE, has announced a record net profit of AED410 million in H1 2019, notching up a 29 percent increase over the first six months of last year and an 11 percent increase on the 2017 full-year net profit. Noor Bank’s revenue rose by seven per cent ...

ABU DHABI / WAM The strategic ties between the UAE and China in the past five years have led to close cooperation on all fronts, with the UAE becoming China’s main commercial partner in the region, reflecting the vision and the mutual coordination of the leadership of the two friendly countries. During the past five years, the UAE and China ...

DUBAI / WAM The UAE is the most advanced e-commerce market in the Middle East and North Africa (Mena) region, according to a joint study by Dubai Economy and digital payment solutions leader, Visa, titled the “UAE eCommerce Landscape”. The study also estimates that e-commerce transactions in the country will hit $16 billion (AED59 billion) in 2019 and grow 23 ...

DUBAI / WAM DP World PLC handled 35.8 million twenty-foot equivalent units (TEU), across its global portfolio of container terminals in the first half of 2019, with gross container volumes growing by 0.5 percent year-on-year on a reported basis and 0.5 percent on a like-for-like basis. Its strong performance across Asia Pacific, the Indian Subcontinent and Africa drove growth in ...

ABU DHABI / WAM Hub71 and Techstars announced the launch of the Techstars Hub71 Accelerator Programme in Abu Dhabi, where 10 start-ups will undergo an intensive 13-week programme that will conclude with an investor Demo Day and the opportunity to receive funding to grow their businesses. The programme serves as an opportunity for start-ups to accelerate their business model and ...